Singapore legislation

Clause 2

Amendment of section 10

In the Income Tax Act 1947 (called in this Act the principal Act), in section 10 —

(a)

in subsection (20A)(f)(ii) and (h), replace “2023” with “2028”;

(b)

in subsection (20A)(h), replace “prepayment fee, redemption premium and break cost” with “early redemption fee and redemption premium”;

(c)

in subsection (23), delete the definitions of “break cost”, “prepayment fee” and “redemption premium”;

(d)

in subsection (23), after the definition of “designated unit trust”, insert —“ “early redemption fee” and “redemption premium” have the meanings given by section 13(16);”;

(e)

in subsection (26), replace “or 12B” with “, 12AB, 12B, 12E or 12H”;

(f)

in subsection (26), after “9,”, insert “12A,”; and

(g)

in subsection (26), replace “or 12H” with “, 12H or 12HA”.

Read in full context — Income Tax (Amendment) Bill →